English | دری

US economy grows at 2.1% in 4Q

in Afghan Business

US economy grows at 2.1% in 4Q

The US Department of Commerce has recorded a 2.1% growth in the country’s GDP in the October-December period.

The figure is an improvement from the previous estimate of 1.9% and is linked to stronger consuming spending.

“Consumer spending will lead growth thanks to higher incomes from more jobs and rising wages, as well as likely tax cuts,” US News quotes PNC Economist Gus Faucher, who predicted GDP growth for all of 2017 at 2.3 percent.

President Donald Trump has pledged to boost GDP growth to 4% or higher through tax cuts, deregulation and increased spending in military and infrastructure.

On the other hand, economists are skeptical of Trump’s economic goal as the US economy faces an aging workforce and disappointing productivity growth.

Trump’s economic agenda also faces Federal Reserve’s increasing interest rate. The Fed is boosting interest rate, with the latest increase being earlier this month, to ensure inflation does not become a problem; however, higher rates make it harder to achieve faster GDP growth.


Tags assigned to this article:
Donald TrumpUS economyUS GDP

Related Articles

Unemployment and domestic violence cited as main factors behind high Afghan emigrations

According to the Ministry of Labor, Social Affairs, Martyrs and Disabled (MoLSAMD), a growing number of Afghans are forced to

Afghanistan’s National Institute of Management & Administration boosts works prospects

The National Institute of Management and Administration (NIMA), established in 2009, has become one of the most attractive centers of

Agriculture Ministry to establish cold storage facility in Nangarhar

Construction work on a large cold storage facility is underway in Jalalabad, the capital city of eastern Nangarhar province. Costing

No comments

Write a comment
No Comments Yet! You can be first to comment this post!

Write a Comment

Your e-mail address will not be published.
Required fields are marked*

Time limit is exhausted. Please reload the CAPTCHA.